Stratos Investment Management LLC Purchases 41,618 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Stratos Investment Management LLC increased its stake in NVIDIA Corporation by 30.1%, owning 180,108 shares valued at approximately $19.52 million as of the latest reporting period.
• NVIDIA reported a $0.81 EPS for the quarter, falling short of analysts' expectations of $0.87, while revenue reached $44.06 billion, exceeding estimates.
• The company's stock has a current market cap of $4.24 trillion and is highly rated by analysts, with an average target price of $182.03 indicating a "Moderate Buy" rating.

Stratos Investment Management LLC boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 30.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,108 shares of the computer hardware maker's stock after acquiring an additional 41,618 shares during the period. NVIDIA accounts for about 1.0% of Stratos Investment Management LLC's portfolio, making the stock its 29th biggest position. Stratos Investment Management LLC's holdings in NVIDIA were worth $19,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA stock traded down $1.74 on Tuesday, reaching $178.26. The company's stock had a trading volume of 152,547,273 shares, compared to its average volume of 247,397,078. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.30. The company has a market capitalization of $4.35 trillion, a P/E ratio of 57.50, a PEG ratio of 1.53 and a beta of 2.14. The stock's 50 day simple moving average is $156.27 and its 200-day simple moving average is $132.58.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVDA shares. Bank of America raised their price objective on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Piper Sandler reissued an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Rosenblatt Securities boosted their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,339,800 shares of company stock worth $800,141,003 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.